Rio Tinto plc (LON:RIO) received a GBX 4,000 ($49.99) price objective from investment analysts at RBC Capital Markets in a report issued on Monday. The brokerage currently has a “buy” rating on the stock. RBC Capital Markets’ target price suggests a potential upside of 9.89% from the company’s previous close.
A number of other equities research analysts have also recently commented on the stock. J P Morgan Chase & Co set a GBX 3,200 ($39.99) target price on shares of Rio Tinto plc and gave the company a “buy” rating in a research report on Tuesday, November 1st. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a GBX 3,500 ($43.74) target price on shares of Rio Tinto plc in a research report on Wednesday, February 8th. Credit Suisse Group raised shares of Rio Tinto plc from a “neutral” rating to an “outperform” rating and increased their target price for the company from GBX 2,750 ($34.37) to GBX 3,600 ($44.99) in a research report on Wednesday, December 7th. HSBC Holdings plc assumed coverage on shares of Rio Tinto plc in a research report on Thursday, November 10th. They set a “buy” rating and a GBX 3,300 ($41.24) target price for the company. Finally, Macquarie increased their target price on shares of Rio Tinto plc from GBX 3,500 ($43.74) to GBX 3,700 ($46.24) and gave the company an “outperform” rating in a research report on Monday, November 14th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of GBX 3,428.77 ($42.85).
Shares of Rio Tinto plc (LON:RIO) opened at 3640.00 on Monday. Rio Tinto plc has a 52-week low of GBX 1,701.50 and a 52-week high of GBX 3,685.00. The company’s market cap is GBX 65.48 billion. The firm has a 50-day moving average of GBX 3,340.36 and a 200-day moving average of GBX 2,851.26.
The business also recently declared a dividend, which will be paid on Thursday, April 6th. Shareholders of record on Thursday, February 23rd will be given a dividend of GBX 100.56 ($1.26) per share. The ex-dividend date of this dividend is Thursday, February 23rd. This is a boost from Rio Tinto plc’s previous dividend of $33.80. This represents a dividend yield of 2.98%.
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In related news, insider Jean-Sébastien Jacques purchased 11 shares of the company’s stock in a transaction on Tuesday, January 17th. The stock was acquired at an average cost of GBX 3,451 ($43.13) per share, for a total transaction of £379.61 ($474.39).
Rio Tinto plc Company Profile
Rio Tinto plc is a mining company. The Company focuses on finding, mining, processing and marketing the Earth’s mineral resources. The Company’s segments include aluminum, copper and coal, diamonds and minerals, and iron ore. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters.
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